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Landlords ready for round two on old-rent law
Zone(s): Lebanon ¦ Sector(s): Property
[28 June 2014, The Daily Star – Lebanon News] From Beirut: Despite looming legal challenges for the new rent law, the bill was republished in the Official Gazette this week, leaving landlords rejoicing at their victory in a lengthy battle with longtime tenants. “We have been demanding this law for a while now and the re-publication is a very good step in the process,” Joseph Zoghaib, the head of the Landlords Association, told The Daily Star.
The law has been at the centre of controversy since it was proposed by the Cabinet two years ago, with tenants saying such a bill would displace thousands of families who rent in Beirut under an old law governing lease contracts signed before 1992. Inhabitants pay minimal rent fees that often amount to less than LL1million annually.